Corruption Threatens to Bring Down China and Russia

We pointed out last year that China is plagued by corruption and phony bookkeeping.

Reuters notes:

President Hu Jintao warned China’s incoming leaders on Thursday that corruption threatened the ruling Communist Party and the state ….

Hu acknowledged that public anger over graft and issues like environmental degradation had undermined the party’s support and led to surging numbers of protests.

“Combating corruption and promoting political integrity, which is a major political issue of great concern to the people, is a clear-cut and long-term political commitment of the party,” Hu said.

“If we fail to handle this issue well, it could prove fatal to the party, and even cause the collapse of the party and the fall of the state. We must thus make unremitting efforts to combat corruption.”